Breton (01333.HK): Proposes Placing of 3.05 Million New H Shares; Expected Net Proceeds of HK$29.52 Million for Africa Ruashi Solar-Storage Project

NewTimeSpace News: Breton Technology Co., Ltd. (stock code: 1333) announced on July 24 regarding the placing of new H shares under general mandate.

According to the announcement, on July 24, 2026 (after trading hours), the company entered into a placing agreement with the placing agents, pursuant to which the placing agents have agreed to act as agents for the company on a best-efforts basis to procure not less than six placees to subscribe for up to an aggregate of 3,050,000 new H shares in accordance with the terms and subject to the conditions of the placing agreement.

The announcement stated that the maximum of 3,050,000 placing shares represent approximately 0.86% of the H shares and approximately 0.79% of the total issued shares (excluding treasury shares) in issue as of the date of the announcement, and approximately 0.85% of the H shares and approximately 0.78% of the total issued shares (excluding treasury shares) as enlarged by the allotment and issue of the placing shares. The aggregate nominal value of the maximum 3,050,000 placing shares under the placing will be RMB 3,050,000.

The announcement disclosed that the placing price is HK$10.08 per H share, representing a discount of approximately 8.11% to the closing price of HK$10.97 per H share as quoted on the Stock Exchange on July 24, 2026, and a discount of approximately 19.02% to the average closing price of HK$12.448 per H share as quoted on the Stock Exchange for the last five consecutive trading days up to and including July 23, 2026. The net placing price (after deducting all applicable costs and expenses) is approximately HK$9.68 per placing share. The placing shares will be issued by the company under the general mandate.

The announcement stated that assuming all placing shares are fully placed, the gross proceeds and net proceeds (after deducting commissions and estimated expenses) from the placing will be approximately HK$30.744 million and approximately HK$29.5192 million, respectively. 100% of the net proceeds from the placing will be used for the investment and development of the Group's overseas Ruashi Project Phase I.

The announcement disclosed that Ruashi Project Phase I is planned as a 30MWp photovoltaic power station and 60MWh energy storage system. The company expects the project to be connected to the grid by the end of the fourth quarter of this year, during which capital expenditures of approximately HK$210 million will continue to be incurred for equipment procurement, engineering construction, installation and commissioning, project supporting facilities, and other project construction, of which approximately HK$29,519,200 is proposed to be funded from the net proceeds of the placing, including approximately HK$24,337,284 for photovoltaic modules and approximately HK$5,181,916 for energy storage components.

The announcement also disclosed that the company completed a previous placing of 10,000,000 new H shares on November 24, 2025, at a placing price of HK$25.08 per H share, with net proceeds of HK$240.0 million. As of the date of the announcement, the HK$168.0 million allocated for overseas solar-storage projects from the previous placing has been fully utilized, the HK$36.0 million for repayment of interest-bearing borrowings has been fully utilized, and of the HK$36.0 million for R&D, commercialization, and demonstration application of multimodal large model-driven unmanned mining truck collaborative dispatch systems, HK$16.98 million has been utilized with HK$19.02 million remaining unutilized.

The announcement cautioned that as completion of the placing is subject to the satisfaction of certain conditions precedent under the placing agreement, the placing may or may not proceed. From the date of the placing agreement until 30 days after the completion date, the company shall not allot or issue any shares or any share interests.

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